Consumers frequently receive unsolicited pre-approved offers of credit. These offers may be made in a number of ways, including from various websites and through postal mail. These offers may be convenient for consumers searching for additional credit, but many consumers may find unsolicited offers of credit annoying or distracting. In addition, obtaining a new credit product, such as a new line of credit or an expansion of an existing line, may require providing an extensive amount of personal information, including name, address, social security number, telephone number, and other sensitive information that consumers may be reluctant to submit to third parties. Accordingly, consumers may be likely to view unsolicited pre-approved credit offers negatively, especially if the offers originate from third party or otherwise unfamiliar websites.
At the same time, preparing and offering a pre-approved credit product may be costly. These costs include expenses for administration and credit decision-making, the cost of obtaining and assembling credit-related information (often from third-party sources such as credit bureaus), postage and printing costs for offers made through the mail, and computer system resources for offers made online. These costs may discourage financial institutions from offering credit to consumers. This may be true even if the consumers in question would qualify for additional credit, because the financial institution may be concerned that costs and system resources may be wasted by consumers that are not interested in obtaining credit or would not be receptive to a pre-approved offer of credit.
Accordingly, there is a need to efficiently identify consumers that would be receptive to, a pre-approved offer of credit, and there is a need to improve the user experience relating to pre-approved offers of credit.